Venezuela crisis #2

One of the world’s most sanctioned nations set for an economic miracle – report. 08.04.2022.

Credit Suisse expects the Venezuelan economy to surge 20% this year.

Venezuela’s economy is poised to grow by as much as one-fifth in 2022 as a surge in production of crude triggers an eye-popping rebound for the nation’s GDP, which saw a dramatic decline amid US sanctions, according to Credit Suisse economist Alberto Rojas.

“These are not typos! If we are accurate, these might end up being among the strongest growth prints globally for these years,” Rojas wrote in a research note seen by Bloomberg.

“However, we want to be clear, high growth prints should come as no surprise after the Venezuelan economy hit rock bottom in 2020,” the note published on Wednesday reads.

The analyst added that tax collections in dollar terms in 2022 could see an enormous growth of more than 40%, while the country’s imports could expand over 15%.

Meanwhile, Venezuela will reportedly record a current account surplus of about $4 billion. The country managed to lower its year-end annual headline inflation forecast to 70%, from a previous projection of 150%.

The economy of the Bolivarian Republic has been under severe pressure in recent years, with the situation severely deteriorating after the US slapped the country with sanctions in 2019. The current penalties place Venezuela in fifth place in the global ratings of the most sanctioned nations.

At the time, the US and its allies recognized opposition leader Juan Guaido as the country’s legitimate president, following allegations of election rigging. Washington then ordered a freeze on all Venezuelan government assets in the US, and barred transactions with US citizens and companies. The UK joined in by freezing the country’s gold reserves held at the Bank of England.

The nation has been suffering from hyperinflation, which reportedly hit 3,000% in 2020. According to Credit Suisse, the Ukraine-related crisis may trigger a “re-composition” in the global supply of crude oil, supporting moves to find a resolution to the Venezuelan crisis, with Nicolas Maduro expected to “find common ground” with Washington.

https://www.rt.com/business/553472-venezuela-sanctions-economic-growth/

That is, the Fourth Reich in Washington:

Caracas confirms that Washington authorized US and European oil companies to "negotiate and restart operations" in Venezuela, 17.05.2022.

The vice president of Venezuela, Delcy Rodríguez, confirmed on Tuesday that the US government authorized American and European oil companies to "negotiate and restart operations" with the South American country, this in the midst of a complex package of sanctions that Washington has imposed against Caracas for at least a decade.

"The Bolivarian Government of Venezuela has verified and confirmed the news published to the effect that the United States of America has authorized American and European oil companies to negotiate and restart operations in Venezuela," Rodriguez said via Twitter.

The high official pointed out that her country "aspires" that this type of US decisions "begin the way for the absolute lifting of illicit sanctions" that affect the Venezuelan population.

Yandex Translate from Spanish

https://actualidad.rt.com/actualidad/430110-caracas-eeuu-autorizar-empresas-petroleras-negocios-venezuela

Maduro says Venezuela is making progress in overcoming the US blockade and recovering its economy, 09.29.2022.

CARACAS (Sputnik) - The President of Venezuela, Nicolás Maduro, said that his country is moving along the right path to overcome the blockade imposed by the United States and recover its economy. His words come in a context of high economic growth that reached almost 20% in the first two quarters of 2022.

"Two years ago I presented to the people and the ANC [National Constituent Assembly], the Anti-Blockade Bill to overcome the effects of the US Government's aggressions against Venezuela. Today we can say that we are on the right path, overcoming the criminal blockade and recovering the economy," the president said through his Twitter account.

In October 2020, the National Constituent Assembly of that time approved the Anti-Blockade Law presented by Maduro to face the coercive and unilateral measures imposed by foreign governments against his country.

This legal instrument establishes legal tools to "effectively counteract, mitigate and reduce the harmful effects generated by the imposition of unilateral coercive measures emanating from other states".

After the promulgation of this law, Maduro indicated that his country received proposals from private investors from Russia, China, Turkey and Iran, who wanted to do business in the various areas of the Venezuelan economy.

In the first quarter of this year the growth of the economy was 17.4%, according to the Central Bank of Venezuela (BCV). In addition, the main banking entity in the country projected a growth of 18.7% for the second quarter of 2022.

The estimates of international organizations on the economic growth of Venezuela for this year range from five to 20%.
2021 was the first year of growth since the so-called war of "North American imperialism" began, according to Maduro.

After four years, Venezuela managed to get out of hyperinflation in 2021, spending 12 months with inflation below 50%, according to the BCV.

More than 900 coercive measures are weighing on Venezuela, which led to a 99% reduction in its revenues, according to the government.

Yandex Translate from Spanish

https://sputniknews.lat/20220929/maduro-afirma-que-venezuela-avanza-en-vencer-el-bloqueo-de-eeuu-y-recuperar-su-economia-1130988302.html

Future foreign minister says Brazil will support Venezuela's return and Bolivia's entry into Mercosur, 12.21.2022.

In statements before taking the post of head of Itamaraty (Brazilian MFA) Mauro Vieira also recalled the management of Ernesto Araújo in conducting the Brazilian MFA and said he was surprised by the level of "neurosis and madness" of the former chancellor.

After being officially announced as the authority that will occupy the head of the Ministry of Foreign Affairs under the new government of Luiz Inácio Lula da Silva, Mauro Vieira granted some statements about the work of the portfolio for next year.

The future minister said that the "enlargement of Mercosur" is important, adding that the new administration will support the return of Venezuela to the bloc and the entry of Bolivia.

"We will support Venezuela's return to Mercosur. They had not yet fulfilled some requirements, they are some legal requirements, [but] we don't know how it is because we don't have anyone in Caracas. Bolivia wants to join Mercosur and the agreement is in Congress, which needs to approve it. No doubt the government will support it. The expansion of Mercosur is important, " said Vieira, quoted by the Brazilian UOL portal.

However, the diplomat stressed that he does not "see sense" or need in a trip by Lula to Venezuela, Cuba or Nicaragua at the very beginning of his term, unless "he has something to negotiate."

"[ ... ] For now, no. You have to wait a little longer. I don't see why [...] of the president going in the short term to Venezuela, I don't see [the need], and to Nicaragua, even less so. It doesn't make any sense. Havana has no problem, we have not broken relations. But I see no reason at the moment to travel to Cuba. If something is negotiated, if there is a reason, yes."

At the same time, Vieira recalled The Times of the former chancellor of the Bolsonaro government, Ernesto Araújo, when he was in charge of the portfolio and said that he was "surprised by the level of madness and neurosis" of Araújo.

"I was surprised at the level of neurosis, of craziness. I've never seen anything like it. The ideas surprised me a lot. I could never imagine that he [Araújo] believed that the Earth is flat, that globalism is the evil of the world. It's almost a religious thing. He was a very closed, quiet person," he said.

It is worth remembering that when assuming the presidency of the Republic in 2019, Jair Bolsonaro "made a point of humiliating" Vieira (who was already ambassador to Argentina, USA, UN and Chancellor during Dilma Rousseff's second term) directing him to a lower category post at the Brazilian Embassy in Croatia, recalls the newspaper O Globo.
At the time, the diplomat asked the president to send him to Athens, Greece, but the president rejected this possibility.

Yandex Translate from Portuguese

https://sputniknewsbrasil.com.br/20221221/futuro-chanceler-diz-que-brasil-apoiara-retorno-da-venezuela-e-entrada-da-bolivia-no-mercosul-26547758.html

The fight with Washington over Venezuela is not over yet, by Dmitry Bavyrin for VZGLYAD. 12.24.2022.

Juan Guaido, the Venezuelan analogue of Svetlana Tikhanovskaya, has lost everything: the opposition assembly of Venezuela has drawn a line under his struggle with President Nicolas Maduro. This means that the US has suffered a serious geopolitical defeat. Alas, hardly final - thanks to Maduro. He is a friend of Russia, but still an anti-hero.

Juan Guaido was recognized as the legitimate leader and acting president of Venezuela by about 60 countries. The assets of the official Caracas in foreign countries were placed at his disposal. For his sake, the United States bought up Venezuelan generals and even decided on a small armed intervention . But he still lost. Now it's final.

The Venezuelan opposition ripped him out of himself , liquidating the “shadow government”, which he, as it were, headed - and even then he was essentially a nobody, just the United States continued to bet on Guaidó for lack of alternative scenarios and candidates. Now either the States are disappointed in their protege, or the opposition really decided to go through self-purification.

The stated reason for surrendering Guaido to political scrap is the search for more effective formats of confrontation with President Nicolas Maduro and new faces. In other words, fired for mediocrity.

His star rose in 2016, when the right-wing opposition won the majority of votes in parliamentary elections and elected Guaidó as speaker. This created a significant inconvenience for President Nicolas Maduro: he even got used to the fact that his wife is in charge of parliament. Therefore, a constitutional reform was conceived, during which another parliament was created - with socialism and Komsomol members. Of course, these two parliaments did not recognize each other.

In 2018, Maduro was declared the winner of the presidential elections, but the "old" parliament declared them rigged. The political confrontation escalated, and eight and a half months later, when Maduro finally decided to hold an inauguration, it spilled over into an attempt at a classic " color revolution ".

The president survived thanks to the fact that most of the security forces remained loyal to him, and due to reliance on the Venezuelan poor, unfortunately, very numerous. For these people, the period of right-wing power and friendship with the United States, which was before President Hugo Chavez, Maduro's predecessor and fellow party member, is something like the first half of the "dashing nineties" for the population of the Russian Federation: vegetating without hopes and even without sovereignty.

Hugo's "left turn" changed the country: thanks to his social programs, many Venezuelans saw a life other than survival. They particularly valued the emergence of "traditional medicine" through the export of doctors from Cuba in exchange for oil, new principles of access to education, and stores where the cost of food and other basic goods was subsidized by the state. Now there is little left of all this, but the poor are sure: if the rightists return, they will take away the last crumbs.

The “color revolution” simmered against the background of a catastrophic collapse of the economy with multi-digit inflation, deficits and real popular assaults on the border with Colombia just to get into the store and buy the most necessary things.

And after the Maduro regime was squeezed in the grip of the most severe sanctions, the situation for ordinary people only worsened, but Washington rarely cared about such foreign policy costs.

The teams of Maduro and Guaido tried to resolve the crisis through negotiations , but it was clear from the president that he was simply playing for time and was waiting for the moment when the terms of the mandates of the deputies of the “old” parliament expired. And he waited - in the elections in December 2020, the Chavista received an absolute majority of votes . First of all, due to the fact that the opposition ignored the elections: the turnout was more than twice as low as in 2016.

At the same time, the speaker at the first stage was not a chavist, but a defector from the ranks of the opposition with a troubled corruption past - Luis Parra. Sanctions were also imposed against him, but it was then that the fall of Guaidó became irreversible: the European Union and many Latin American countries stopped recognizing him as the head of Venezuela, although the Maduro government was also not recognized.

The states, however, persisted, and a new virtual position was invented for Guaido: the chairman of an alternative government based on the third parliament, now completely fictitious - a kind of assembly in which the oppositionists grouped. Soon, an intraspecific struggle unfolded between them, the result of which we are now observing. This is the defeat of the pro-American project in the pro-Russian country, whose authorities since the time of Chavez have been a thorn in the eye of the State Department.

However, this thorn in the current leadership of the State Department is much less than under Donald Trump. Guaido is precisely his rate and his creature. Support for the Venezuelan opposition has become part of the Trumpists' "crusade" not only against the Chavistas, but also against the leftist governments of the continent in general.

The Democrats were not so interested in this project: the Joe Biden administration kept Guaido as an asset, but removed some of the sanctions from the Venezuelan oil industry  in order to fight the energy crisis and Russia.

So the United States has changed priorities. And now the textured mustachioed Maduro can celebrate an unconditional victory over Juan Tikhanovsky. 

Russia, which has supported Maduro throughout the crisis, can join in the celebrations. But it would be foolish to deny the reality: Venezuela did not come out of the crisis. Perhaps the worst is yet to come.

From the confrontation in 2019, it was initially clear who was ours for us, and who was a stranger and slander our geopolitical opponents (not to mention the fact that the technology of "color revolutions" in the Russian Federation is not accepted in principle). However, the root causes of the confrontation have not gone away. This is not only the US State Department, but also a socio-economic catastrophe in the Bolivarian Republic. The same one that, under Chavez, was one of the most influential countries on the continent and put together its own military-political bloc opposing Washington.

Maduro has shown himself to be an effective manager in the fight against the opposition and the restructuring of the state under the task of maintaining personal power. The same security forces remained loyal to him, among other things, because he made them "watchers" of entire sectors of the economy. But he is not Chavez. The former trade unionist is stripped of many of his virtues, including charisma.

The current president is much more authoritarian, less flexible in management, and less educated. And he literally brought the country to its knees - to the very handle of the kalach that gave life to this Russian idiom. Chavez's other legacy is simply eaten away (another thing is that the "bubble" of government spending began to inflate precisely under him, and the less fortunate successor received a "deferred penalty" in the form of structural problems in the economy).

Maduro overcame his enemies with force and boldness, capitalizing on the nostalgia for Chavez and the anti-colonial hatred of many Venezuelans for the United States. But he does not pull on a uniquely positive hero, as we would like to see him.

It is significant that the six dozen states that recognized Guaido as President are not only Western countries, but also many of Venezuela's neighbors on the continent, who perceived Maduro as the main culprit of the troubles of the Bolivarian Republic.

In such situations, the opinion of other Latin American countries is difficult to ignore. And it cannot be said at all that Washington “twisted their arms”.

During the economic war with Russia, against the backdrop of the NMD, their hands twisted much more, but they did not join the sanctions, and in most cases even the condemnation of Russia in Latin America. There was a vivid illustration of the decline of US influence on the continent , which the Americans considered their "backyard". 

And the answer is simple: Russia in South America is treated much better than Venezuela under Maduro, where oil is also flooded.

The Bolivarian Republic clearly needs reforms that would open the way for it to rise - out of the crisis. The tragedy of the situation is that under the sanctions regime, this will be extremely difficult to achieve, and their removal is essentially due to the departure of Maduro, which he will never do voluntarily.

This is ouroboros, a vicious circle. And in the foreseeable future, Venezuelan history runs the risk of going in this circle, permanently experiencing attempts at revolutions - “colored” and not only.

https://vz.ru/world/2022/12/24/1192338.html

Another example of the new reality:

Maduro:

Venezuela used to import 85% of all food consumed. Today, we produce 94% of all food consumed.

The economic and financial benefits are self-explanatory.

https://twitter.com/thesiriusreport/status/1609860204639797254

What is worth to notice, most of the food was imported ... from the USA.
So they have constructed a structure, when not only keep the Venezuela balls by refining its oil on the US territory, but could create a food crisis any moment they needed.

Yanqui obtuse State Department keeps on persisting. They'll unite the whole Latin America against them:

The US still considers the Presidency of Nicolás Maduro illegitimate in Venezuela, 01.03.2023.

The US government still considers the presidency of Venezuelan Nicolás Maduro illegitimate, said US State Department spokesman Ned Price.

The positioning of the North American country comes days after the dissolution of the interim government headed by the opposition Juan Guaidó was announced.

"We will continue to coordinate with him [Juan Guaidó] as a member of the 2015 National Assembly and with other like-minded democratic actors in Venezuela to support the Venezuelan people and their aspirations for democracy, the rule of law and prosperity," Price said at a press conference.

"Our approach to Nicolás Maduro has not changed: he is illegitimate. We support the 2015 National Assembly," Price added.

Last December 30, the Venezuelan opposition supported the elimination of the self-proclaimed "interim government" that Guaidó led since 2019. With 72 votes in favor and 29 against, the parallel National Assembly, made up of former Venezuelan opposition deputies, approved the dissolution of the interim Government of Juan Guaidó, who in 2019 proclaimed himself as the legitimate president of Venezuela, after ignoring the results of the 2018 elections, in which Maduro was reelected.

Ned Price assured that Guaidó "remains a member of the 2015 National Assembly," which "is the last democratically elected institution in the country."

The Venezuelan opposition leader called the decision "a leap into the void" and insisted on proclaiming himself as interim president of Venezuela. "Today there is a leap into the void. He's capitulating today. The function of the president-in-charge is not delegatable, much less avoidable. Someone must assume it, because otherwise the Parliament would be falling into an empty highway," Juan Guaidó declared.

The statement by the US State Department comes amid negotiations between Washington and Caracas to restore diplomatic and trade relations, as well as the lifting of sanctions applied from the North American country against the South American nation.

These negotiations are taking place at a time when the European energy crisis is putting pressure on the US market to obtain new energy sources. For this reason, the White House has turned its gaze back to Venezuela, one of the largest oil powers in the world.

[b]Far into politics... close in business?

Nicolás Maduro has acknowledged that his government is willing to restore diplomatic ties, despite the recent approval of the so-called Bolivar Law, which prohibits US federal agencies from doing business with any company that supports and recognizes Maduro as head of the Executive.

However, last December 12, Venezuela reached an agreement with the American company Chevron to continue producing oil amid the energy crisis that occurred as a result of the sanctions imposed by the West against Russia.

Despite the fact that the White House has maintained a hostile policy towards the Venezuelan government for years, in the oil field the relationship has shown signs of improving in recent months.

The signing of new contracts between Venezuela and Chevron aims to boost oil production in the South American country.

Yandex Translate from Spanish

https://sputniknews.lat/20230103/eeuu-aun-considera-ilegitima-la-presidencia-de-nicolas-maduro-en-venezuela-1134300523.html[/b]

Venezuelan Opposition Puts Final Nail in Guaido Ouster With New Figuera Appointment, 01.05.2023.

MOSCOW (Sputnik) - Venezuela's opposition-controlled National Assembly replaced Juan Guaido as its head on Thursday, a week after ousting the nation’s US-backed "interim president" and dissolving his government.

The legislature, which was elected in 2015 and stayed on after a new chamber was created, announced the appointment of Dinorah Figuera as president and Marianela Fernandez and Auristela Vasquez as vice-presidents for the 2023-2024 legislative period.

Washington and its allies recognized Guaido as de-facto leader of Venezuela in 2019, handing him controls over the oil-rich South American country’s foreign assets. However, Guaido was largely rejected by the Venezuelan public.

Guaido's ouster from the assembly leaves him without a job in Venezuela and puts the congressional control of foreign assets in question.

The latest came after the US confirmed on Wednesday that it would continue to recognize Guaido as Venezuelan president despite opposition parties having voted to do away with Guaido's so-called 'interim presidency.'

Tensions between the US and Venezuela hit a new high in 2019 after the Trump White House claimed the presidential election won by Venezuelan President Nicolas Maduro was fraudulent. The administration did not provide any evidence to support its allegations, and went on to impose sanctions on the mineral-rich country.

https://sputniknews.com/20230105/venezuelan-opposition-puts-final-nail-in-guaido-ouster-with-new-figuera-appointment-1106069914.html

CARACAS, Dec 30 (Reuters) - Venezuela's economy grew 17.73% year-over-year in the first three quarters of 2022, the South American country's central bank said Friday, following an eight-year economic collapse.

The economy plunged into crisis after a state-controlled model failed to produce results, prompting more than 7 million Venezuelans to flee the country.

In 2019 President Nicolas Maduro's government, facing U.S. sanctions, relaxed private sector regulations to allow more foreign currency inflows. While the move helped some industries, annual inflation remains high - hitting 155% in October - and more than half of Venezuelans live in poverty.

Venezuela's central bank began publishing some economic data more consistently this year after a three-year pause in gross domestic product data. It has yet to resume reporting its outstanding balances.

Oil activity rose 27.09% in the January-to-September period from a year ago and non-oil activity grew 14.49%, the bank said in a statement.

It attributed the bump in oil activity to the "recovery of crude oil production capacity." The bank did not report the country's production volumes, though OPEC data indicates output of 600,000 to 700,000 barrels per day (bpd).

https://www.reuters.com/world/americas/venezuela-economy-grew-1773-yy-through-september-central-bank-2022-12-30/

Bloody Sunak, give back the stolen gold!

Venezuelan Embassy in US Ceases Operations After Guaido's ‘Interim Government’ Dissolved, 01.06.2023.

WASHINGTON (Sputnik) - The Venezuelan embassy in the United States, which had been under control of Juan Guaido since 2019, said it has ended its operations after the opposition leader's interim government was dissolved.

"We inform the Venezuelan community in the United States, and the public in general, that the Venezuelan Embassy in the United States and all its officials formally ceased functions on Thursday, January 5, 2023," the statement read on Friday.

Guaido associates seized control of the embassy in 2019 after the opposition-controlled National Assembly rejected the 2018 presidential election results and established an "interim government" led by Guaido. The United States then recognized Guaido as interim president.

The statement expressed a deep regret about the decision's possible impact on Venezuelan citizens in the United States.

“In the coming days, we will present due accountability,” the statement said. “We thank all the support provided by the representatives of the executive, legislative and judicial branches of the US, as well as the local authorities and officials, for all the support given to the noble and just cause for the restitution of freedom and democracy for the Venezuelan people.”

On Monday, Venezuelan President Nicolas Maduro said the government is prepared to advance the process of normalizing political and diplomatic relations with the United States.
Venezuela broke off diplomatic relations with the United States in 2019 after the latter recognized Guaido as the country's interim president instead of the reelected Maduro.

The United States imposed comprehensive sanctions on Caracas, especially targeting the country's oil and financial industries as well as freezing its reserves.

At the height of tensions between Washington and Caracas in 2019, dozens of protesters occupied the Venezuelan embassy for weeks in an attempt to prevent the Guaido camp from taking possession of the building.

The occupation was carried out with the support of the democratically-elected government of Venezuela. At the time, the US sought to place Carlos Vecchio, the ambassador appointed by Guaido, as the building's new envoy.

With pro-Guaido supporters blocking supplies of food and water from getting into the building at the time, the dire situation even saw civil rights activists Jesse Jackson descend on the scene to assist the anti-war activists holed up inside the embassy.

Contacts between the Venezuela and the US resumed to some extent in March 2022, when President Joe Biden sent a delegation to Caracas to negotiate with the Maduro government on the issue of oil supplies amid the energy crisis amplified by Western sanctions against Russia.

Talks about a possible thaw in US-Venezuela relations started following reports that the Venezuelan opposition was ready to oust Guaido, and the United States indicated it would not interfere in the process.

On Friday, the Venezuelan opposition supported, in a second hearing, the elimination of the self-proclaimed "interim government" that Guaido had led since 2019.

https://sputniknews.com/20230106/venezuelan-embassy-in-us-ceases-operations-after-guaidos-interim-government-dissolved-1106092998.html

Colombia's Gustavo Petro and Nicolas Maduro meet in Caracas for bilateral meeting, 01.07.2023.

The meeting between the two South American leaders comes a week after the nations completed the full opening of their borders, which have been closed for seven years.

Colombian President Gustavo Petro arrived in Caracas on Saturday for an "extraordinary" meeting with his Venezuelan counterpart Nicolas Maduro. The president was received by the ambassador of Colombia to that country, Armando Benedetti.

The issues discussed were related to the bilateral relationship between Colombia and Venezuela, the reopening of borders, and the key issue of Venezuela's reentry into the Inter-American human rights system.

The border between Caracas and Bogota was fully reopened on New Year's day after the inauguration of the old Tienditas bridge, now renamed Atanasio Girardot, the epicenter of years of crisis between the two countries.

After meeting Maduro, Petro will head to Chile on Monday (9), where he will meet his Chilean counterpart, Gabriel Boric, as part of a state visit.

Yandex Translate from Portuguese

https://sputniknewsbrasil.com.br/20230107/gustavo-petro-da-colombia-e-nicolas-maduro-se-encontram-em-caracas-para-reuniao-bilateral-26850642.html

Hmm the Inter-American Human Rights System is an organism (their website says "autonomous organ"???) of the OAS, The Organizarion of American States. It also says on it's own website it focuses especially on election monitoring and reform. Btw the OAS is headquartered in Washington DC.

Wtf is all this? Went to the wikipedia talk page (the talk pages of wikipedia always bring fascinating bits of info) and there are serious criticisms of this organization in South America. Also some controversy during the early Guaido madness in Venezuela. Guaido apparently put a new guy in as a representative to the OAS and even though Meduro regained power the representativr didnt leave and the OAS still saw Guido as president...

Wtf is going on? I'm hearing some very negative comments from what few I have seen so far. Also look at this transcript of an interview I just found when looking all this up. I'm going to scan thru any part that speaks of Venezuela.

https://www.csis.org/analysis/future-organization-american-states

Sprintero ވ
@Sprinter20000
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1h
Venezuela and Colombia have agreed on the full opening of borders for international transportation of goods and passengers, both for public needs and for citizens in private transport.

But what do you guys think of the Venezuelan ambassador discussing reentering this obvious globohomo organization? Is Meduro making deals with the neocons/neolibs? Or could this be behind Meduro's back with some other clique involved? Or is it an olive branch of sorts???

Exclusive: Iran to start revamp at Venezuela's largest refining complex within weeks - sources


PUNTO FIJO, Venezuela, Feb 3 (Reuters) - State firms from Iran and Venezuela will start in the coming weeks a 100-day revamp of the South American nation's largest refining complex to restore its crude distillation capacity, four sources close to the plan said.

The effort by state oil firm Petroleos de Venezuela (PDVSA) and the state-owned National Iranian Oil Refining and Distribution Company (NIORDC) to boost fuel output at the Paraguana Refining Center marks a step toward ending Venezuela's reliance on U.S. refinery technology, the sources said.

https://www.reuters.com/business/energy/iran-start-revamp-venezuelas-largest-refining-complex-within-weeks-sources-2023-02-03/

NOTE: good news if true.